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North Dakota allows any taxpayer to claim an income tax credit of 3 percent per year for five years for the cost of equipment and installation of a system that uses landfill gas energy.
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North Dakota
Renewable Energy Tax Credit
North Dakota allows any taxpayer—an individual or corporation—to claim an income tax credit of 3 percent per year for five years for the cost of equipment and installation of a system that uses landfill gas, solar, wind, biomass, geothermal energy, and anaerobic digestion energy. The system must have been installed after December 31, 2000. If the eligible device is part of a system that uses other energy sources, only the renewable energy portion of the system is eligible. The tax credit will expire on January 1, 2011.
If the amount of the credit exceeds a taxpayer’s tax liability, the excess credit may be carried over for five succeeding taxable years. Alternatively, all or part of the unused credit may be sold, assigned, or otherwise transferred by the taxpayer to the purchaser of the electricity generated by the system or to any North Dakota taxpayer that constructed or expanded an electricity transmission line in the state after August 1, 2007. A taxpayer may sell the credit to only one credit purchaser each taxable year. The credit purchaser is not permitted to sell, assign, or otherwise transfer the credit.
To claim the credit, tax payers should enter it on the appropriate line of the North Dakota individual, fiduciary, or corporation income tax return. In addition, a supporting statement describing the system, its costs, and the date on which installation was completed must be attached to the return. For individuals, the credit is allowed only on Form ND-2. Corporations claim the credit on Form 40, Schedule TC.
For More Information
Contact:
Joe Murphy
North Dakota Department of Commerce
Division of Community Services
1600 East Century Avenue, Suite 2
P.O. Box 2057
Bismarck, ND 58502-2057
701-328-5300
Fax: 701-328-2308
E-Mail: jmurphy@nd.gov
Web site: www.nd.gov/dcs/energy  |
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